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Budgeting and planning
Tracked by: 1 Boarder
Due to the present situation of the market I am thinking to sell all my investment and book losses whatever value I have at present and take a long breath and out from this dirty business of stock market. Boarders please advice my decision is right or wrong. ...
Tracked by: 1 Boarder
I am still not clear on your apprehension on Dream Plan since the premium is low with guranteed maturity benefit, I had paid Rs 11844 yearly premium for 50 lac cover for 25 years, the premium is comparable with normal term plans.Pls check the details of the policy (Birla Dream Plan)and provide your feedback as I have already made the payment.Regards,Amit...
In reply to:
Guide on personal finance planning
Posted by :
Guest
whats the catch in birla dream plan. the premiums with enchanced sum assured works out cheaper than pure term plan with guranteed maturity benefit of rs.75000 
Tracked by: 0 Boarder
if you go to the sales office of any \"top\" builder in mumbai and approach their sales officer donot be surprised if the following scene is enacted time and again:
the first answer will be \"all flats are already sold out\". on persistence you may be shown a first floor flat in an underconstruction building with a lousy view. the entire aim is to make you feel dejected and small.
walk away a few yards and you wll find a friendly estate consultant who will show you hazaar ready for possession in the same very same builder\'s complex for resale.
the entire aim is to make you feel small and blunt your negotiating power. surprisingly it works. even the diehard value for money memsahibs who will surreptiously break bhendis in sahakari bhandars to get fresh ones, will meekly sign on the dotted lines and pay the amount demanded for the flat with a belief that if they donot decide today the flat will \"slip\" out of their hands and a great opportunity will be lost.
now a reality check. in a hypothetical but not far from real case, if one has booked a flat for Rs.3200 in 2003 and now in 2008 the flat is available for rs.7800 the compounded annual growth rate is only 19% or less. in the long run real estate yield has been hovering on an average around 10% or less. hence donot be in a hurry as if the flat is available for free or that you wll miss out on an opportunity. second worst comes worst today you can always rent a flat for 3% of the value which may go up to 5% in a super premium locality. good luck!...
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can some one help me ........
i would like to do CFP course , can some guide me ,where to do the course , any reputed institutions , since i am in small town no details ...
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Volatile market. But dont run away. Yes, we are offering 10% per month returns with guarantee in this volatile market. Please visit shareking.co.cc...
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I have my own house where i stay and also a small flat in the suburbs which has been rented out.My investments are skewed in favour of equity vis a vis real estate upto 70-30.Is it advisable to dilute some equity and buy another property which can be rented out....
Tracked by: 1 Boarder
Is TV 18 CNBC fixed deposit accept term deposits from the public?
Let me know the terms and conditions.
for the non receipt of the FDR cited, please check the minimum deposit amount accepted in any schemes, whether you are to collect the FDR in person and have you given specific instructions to send them by post.
Many banks are reluctant to send them by post or courier for "small" values .HDFC Bank, they are not accepting--actually refused-- to accept a deposit for a lac of rupees at Madurai-625001 branch where My son is having deposits and SB accounts. AS we are shareholders, I called on them ,spending about Rs.100 for auto-rickshaw, on their specific offer, while I got their dividend warrant.
Main difficulty is many of the PSU banks do not provide the salient features of their schemes.
Coporation Bank is giving rebates in Locker Rents for term deposit holders. I claimed it and got the credit after three months. They have not done it automatically.
So be alert and save your fortunes.
v.krishnamoorthy...
In reply to:
TV 18 CNBC FIXED DEPOSITE - REF NO. 80705
Posted by :
Atul Patel
With reference to the above subject, I would like to bring to your notice that the application for Fixed Deposit in Scheme-B for Rs. 10000/- dated 21/07/2008 wide cheque No. 440969 of HDFC Bank Ltd. (Chq debited to my SB a/c) in my name. Since than I have not received the receipt and Certificate.
Tracked by: 0 Boarder
Beware of financial scamsHT - 01:50 AM
Psudo-Financial ADVISORS create scams to spell doom for many people. A majority of these scams are done under the guise of luring a person to earn a quick buck. this often take place in frquently changing mutual funds.
The Reserve Bank of India and many other financial institutions warn investors against putting their hard-earned money into such activities. But seldom they take quick remedial measures to book these pickpocketeers.
Unwary investors are caught in the middile to lose their purse.
v.krishnamoorthy...
Tracked by: 1 Boarder
With reference to the above subject, I would like to bring to your notice that the application for Fixed Deposit in Scheme-B for Rs. 10000/- dated 21/07/2008 wide cheque No. 440969 of HDFC Bank Ltd. (Chq debited to my SB a/c) in my name. Since than I have not received the receipt and Certificate....
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Saving to buy your first home? Dreaming of a nice car or vacation that you’ve always wanted? Aiming to get your child the best education that she can get?
Or enjoying all of this already, and simply hoping that your standard of living will stay the same until the end?
Life expectancies and aspirations are both growing. And with that, planning for a secure financial future is increasingly getting tricky. A complex financial marketplace and changing tax laws make it difficult to understand your financial picture.
Whatever stage you are at in life, you need to make sure your personal financial life gets the attention it deserves. You need to develop well-defined goals and define appropriate strategies to turn your dreams into reality. So your financial life is a conscious, well thought out move in the direction you want your life to take, rather than an accident.
How do I begin planning?
Any financial planning process is essentially composed of seven iterative steps
Goal Setting
Budgeting
Profiling
Allocating Assets
Selecting the Instruments
Creating and Tracking your Portfolio
Reviewing the Plan
What is goal setting?
Goal Setting is deciding the end-point of your planning exercise – determining where you want to go. The more tangible your goals, the easier it is to plan for their realization. Begin by listing both your short and long term financial goals. Short-term goals are things you want within the next five years – a car, funds for an upcoming wedding.
Be aware that short-term goals leave you with lesser flexibility in planning. If your short-term goals require extraordinary returns on your investments, it’s time to do a little prioritizing. Drop some of the goals; push some for later; make tradeoffs - pick a Maruti 800 over a Santro if it is critical to buy a car.
Next, list out your long-term goals. These can stretch over a period of 10-30 years.
These goals could include: available cash for emergencies, education for children, care for family members, retirement, a nest egg to permit a career change, buying or selling a business, estate planning, financial independence or personal objectives such as a special vacation or second home.
Remember to rank these goals in order of priority too. The idea is to know your goals with a mathematical precision so you can play around with options, and re-allocate investments and expenses without contemplating over it every single time. The crisper your goals, the more easily you can pull off the whole game with whatever you have to begin with.
What is budgeting?
Once you know your goals, you need to figure out how far you are from attaining them. So take stock of your current situation – we call this ‘Preparing your balance sheet’.
To begin, list out the assets you own currently. This could be your property, insurance, investments and all assets you hold at the moment. Next, recall all your liabilities and put them down. All outstanding loans (home loans, car loans, personal loans) and credit card debts are liabilities.
From your balance sheet, you can now proceed to calculate your net worth. Believe us, chances are you will be very surprised (pleasantly or otherwise) when you calculate your net worth, especially if you have never undertaken a planning exercise before. This is because we rarely ever have a unified view of where all our money lies. But once you start plugging numbers in your balance sheet and do the math, you will have a whole new set of information to play with.
So first estimate the value of your assets. If you have owned your home for a number of years, you may be sitting on a nest egg. Get in touch with real estate appraisers to put the right number on your property’s worth. Record the current values of your bank balance, mutual funds, life insurance, fixed deposit, PF, PPF and brokerage statements.
It pays to use software applications that access real-time stock market data for tracking your assets. Tools like My Money Manager make it superbly convenient to monitor your assets, since you only need to enter data once, after which your mutual funds and share values are automatically updated of any subsequent changes, without your intervention.
Next estimate the value of your liabilities and simply subtract your liabilities from your assets. And bingo – you have your net worth!
What is profiling?
All right, so you know where you want to go, and how you are financially placed today. But you could still be remarkably different from fellow investors depending on a number of attributes, among them -
Risk appetite: Are you risk averse or risk tolerant? It can depend on your age, whether you have assets to fall back now, or just a dad to bail you out every time you get into trouble.
Hands on investing or collective investing: Can you track your stocks by yourself, or would you rather let a mutual fund house take your calls?
Short term or long term: Would you manage your stocks actively, or would you rather buy and hold for the long term?
Investors come in all shapes and sizes, so see where you fit in. A good financial adviser will profile you anyway, before suggesting investments.
How do I allocate assets?
This step requires a considerably greater amount of thought and advice from those in the know. While you can never tell which asset class will perform well from one year to the next, the golden rule is to remain comfortably diversified. Like they say – ‘Diversification is the only free lunch when it comes to investments’. And yet, there is always one kind of asset that is more suitable to your profile.
Broadly speaking, there are three asset classes – stocks, bonds and money market instruments. Each class will give you certain benefits and risks, meaning there is a tradeoff in choosing one over the other. Money market instruments will give you liquidity and preserve your principal, but returns are comparatively lowest. Bonds provide income and a moderate degree of risk to principal. Stocks provide quick growth, but also carry high risk.
So which way do you go? Take our financial health check for a quick feel of what will work best for you. On our Asset Allocation page, you will also find numerous articles on the features of various asset classes, while our experts will advice you on which way you should be looking.
How do I select the instruments?
Now you know what percentage of your money ought to go into equity, and whether you need to play the money market or not. How do you then invest in stocks? Get a demat account and start trading, or will a cautious SIP be more appropriate for you?
Your choices of instruments are countless - mutual funds, shares, bonds, public provident funds, National Savings Certificates, Post Office Monthly Income Scheme, life insurance and ULIPs, bank and corporate fixed deposits, foreign currency, gold and jewellery, real estate, and luxury collectibles such as art or automobiles.
Each instrument will rate differently on liquidity, safety of principal, capital appreciation, tax benefits and returns.
How do I create and track my portfolio?
If you have gotten your asset allocation right, it is time to put your plan into action. For buying a particular stock or bond, use a combination of advice from a financial adviser, and validating it with your own research. Remember, staying involved in your finances helps. Nothing in life is achieved if you take a hands-off approach; and by contrast, a remarkable amount can be achieved once you start getting involved.
...
Tracked by: 1 Boarder
whats the catch in birla dream plan. the premiums with enchanced sum assured works out cheaper than pure term plan with guranteed maturity benefit of rs.75000...
In reply to:
Guide on personal finance planning
Posted by : Guest
Thanks Ashal and Mr Sharma for your valuable advice.
Just to add that yesterday only I have taken a Term Plan of 50 lac, going by the rate of bomb strikes, thought I should not waste any time protecting my family in case of any unfortunate event.(Not exactly term plan but Dream Plan from Birla Sunlife with an annual premium of Rs 11844, as adviced this is like term plan with additional benefit of return of fund value at maturity).
Would also like to understand as suggested by you that I discontinue HDFC Tax Saver Fund, but how can I as its with 3 year lock in and I have taken it primarily to cover the tax exemption.
Secondly will it make sense surrendering Life time ULIP now since market has come down,or is there other better opportunities which will compensate the notional loss.
Also request your advice on which ULIP plan/MF SIPs I should buy considering my short and long term plans.
I have contacted no of insurance advisors but all seem to be selling there products only and cursing other cos products/schemes.So I am throughly confused on which product to buy.
Awaiting your valuable feedback, Thanks again, Amit
Tracked by: 1 Boarder
Dear sjanki,
There is no need to worry. I am also having Tata-Aig Investassure since 2004. It is a GOOD ULIP.
Problems of AIG in USA may not have any Effect to your Policy because
TATA is Major Share Holder.
You should Discontinue to Pay Further Premium but Continue Policy till 2 years more.
There may be heavy Surrender Charge if you Withdraw amount now.
You may Continue the Policy till 5th or 6th year.You may Surrender Policy when surrender Charges become ZERO.
In ULIPS you should Pay Minimum Premium & Take Max. Insurance Cover.
Investment in Mutual Funds is Better Option.
P.C.Shama
...
In reply to:
TATA AIG Invest Assure
Posted by :
sjanaki
Hi,
Both my husband and me have accounts with TATA AIG InvestAssure. It amounts to about 4Lakhs premium a year, and we have been in this for the last 3 - 3 1/2 yrs.
Now, looking at the messages quoting AIG's bad financial state, we are in a dilemma as to what to do.
* Should we keep this policy, and keep paying for it?
* Should we stop further payment, till the air clears as to what is going to happen? (This policy allows us non-payment of premium after 3 yrs of commencement).
* Should we try to get out of the scheme? (Which we are not sure how to)
We will be very happy if some one can give some lead in this regard.
thanks and regards,
Janaki
Tracked by: 1 Boarder
Hi,
Both my husband and me have accounts with TATA AIG InvestAssure. It amounts to about 4Lakhs premium a year, and we have been in this for the last 3 - 3 1/2 yrs.
Now, looking at the messages quoting AIG's bad financial state, we are in a dilemma as to what to do.
* Should we keep this policy, and keep paying for it?
* Should we stop further payment, till the air clears as to what is going to happen? (This policy allows us non-payment of premium after 3 yrs of commencement).
* Should we try to get out of the scheme? (Which we are not sure how to)
We will be very happy if some one can give some lead in this regard.
thanks and regards,
Janaki...
Tracked by: 1 Boarder
Dear Amit,
Any Term Plan with Return of Premium is THE WORST OPTION.
If your Cheque is not DEBITED in your Account, STOP PAYMENT of the Cheque.
Go for Either Cheap ULIP with High Cover or Pure Term Plan.
Please buy current EDITION of MONEY TODAY Magzine to Understand about ULIPS & other Insurance Options.( ww w dot moneytoday dot in )
A lot has already been written in last few Days but you may not Understand FULLY by Exchanging views on this messageboard.
You may continue ICICI ULIP for sometime & then decide.
One should not take any Insurance without understanding Correctly.
P.C.Sharma
...
In reply to:
Guide on personal finance planning
Posted by : Guest
Thanks Ashal and Mr Sharma for your valuable advice.
Just to add that yesterday only I have taken a Term Plan of 50 lac, going by the rate of bomb strikes, thought I should not waste any time protecting my family in case of any unfortunate event.(Not exactly term plan but Dream Plan from Birla Sunlife with an annual premium of Rs 11844, as adviced this is like term plan with additional benefit of return of fund value at maturity).
Would also like to understand as suggested by you that I discontinue HDFC Tax Saver Fund, but how can I as its with 3 year lock in and I have taken it primarily to cover the tax exemption.
Secondly will it make sense surrendering Life time ULIP now since market has come down,or is there other better opportunities which will compensate the notional loss.
Also request your advice on which ULIP plan/MF SIPs I should buy considering my short and long term plans.
I have contacted no of insurance advisors but all seem to be selling there products only and cursing other cos products/schemes.So I am throughly confused on which product to buy.
Awaiting your valuable feedback, Thanks again, Amit
Tracked by: 1 Boarder
Dear amit, it is nice that u r thinking deeply & r ready to take advise from others. As u had just taken Birla Dream, i \\`ll not comment as of now for this one, as ur data is already with me & i\\`ll analyze it & answer it after that. Regarding the Value of 50L in a single plan, i think u had opted a wrong choice. It make sense to have multiple Term covers of different Terms as well as from different Ins. cos., better known as SPLIT Term Covers here @ MMB. To have a better understanding of these split term covers plz. visit my prev. posts.
Regarding ur HDFC Tax saver, Dear Sharmaji (PCSPUNE) had advised only to stop ur current SIP. He also know, due to lock in u can\\`t redeem ur existing investment. Alternative funds already suggested by him.
Plz. don\\`t think of surrendering ur existing ULIP as of now.
Thanks
Ashal ...
In reply to:
Guide on personal finance planning
Posted by : Guest
Thanks Ashal and Mr Sharma for your valuable advice.
Just to add that yesterday only I have taken a Term Plan of 50 lac, going by the rate of bomb strikes, thought I should not waste any time protecting my family in case of any unfortunate event.(Not exactly term plan but Dream Plan from Birla Sunlife with an annual premium of Rs 11844, as adviced this is like term plan with additional benefit of return of fund value at maturity).
Would also like to understand as suggested by you that I discontinue HDFC Tax Saver Fund, but how can I as its with 3 year lock in and I have taken it primarily to cover the tax exemption.
Secondly will it make sense surrendering Life time ULIP now since market has come down,or is there other better opportunities which will compensate the notional loss.
Also request your advice on which ULIP plan/MF SIPs I should buy considering my short and long term plans.
I have contacted no of insurance advisors but all seem to be selling there products only and cursing other cos products/schemes.So I am throughly confused on which product to buy.
Awaiting your valuable feedback, Thanks again, Amit
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